Shares in Japan charged ahead on Tuesday after sentiment was boosted by better than expected US retail sales data while the weaker yen encouraged interest in exporters.

The benchmark Nikkei 225 index closed up 123 points at 8,701 in Tokyo while the Hang Seng logged a 58-point gain at 21,207.

Retail sales in the US, Japan's biggest export market, rose to the strongest level in nearly two years, the latest data showed as consumers splashed out on electronic goods and cars.

Sony advanced 2.4% in Tokyo after the data and as the dollar strengthened against the yen. Toshiba gained 3.8% while games giant Nintendo also scored strong gains on Tuesday with its shares rising 2.2%.

Banks also put in a solid performance in Tokyo and Hong Kong after Citigroup's earnings report. Its share rallied over 5% on Wall Street after it posted better than expected core revenue. Shares of HSBC rose 1.2% while Sumitomo Mitsui Financial added 1.8%.

Shares of Softbank recovered from its recent sell-off on concern it is paying too much for its majority stake in US mobile firm Sprint Nextel.

Meanwhile property stocks in Hong Kong performed well as bargain hunters moved in following recent weakness. Shares of China Overseas Land & Investment perked up 2.3% while China Resources Land bounced over 5%.

Otherwise markets looked ahead to China's third-quarter growth data out Thursday and the start of an EU summit on Europe's debt crisis.


CJ

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